Real estate crowdfunding platform CrowdfundUP has today announced the closing of a $2.1 million funding round led Positive Investment Enterprise, an asset development and investment conglomerate. The fresh capital will go towards further developing CrowdfundUP’s technology and expanding the team to accelerate the startup’s growth.

With Positive Investment Enterprise’s presence extending across Asia, the strategic funding will also help CrowdfundUP explore opportunities for expansion into China as the Chinese appetite for Australian property continues to grow: according to the Foreign Investment Review Board, Chinese buyers spent more than $24 billion on real estate across Australia in the 2014/15 financial year.

Launched in 2015, the startup’s platform allows retail and sophisticated investors directly to property groups and investment opportunities across Australia. Users create an online portfolio through which they can invest across a number of developments.

Ali Mohammed, CEO and cofounder of Positive Investment Enterprise, said the organisation invests in disruptive, scalable business models that exhibit strategic value to its core businesses, and as such CrowdfundUP was a standout.

“By investing in CrowdfundUP, we envision a strategic partnership from shared values through combined opportunities, enhanced funding capabilities, and resource contributions,” he said.

Mohammed added the partnership will deliver access to new markets and customers, accelerate innovation-driven development cycles, and improve the startup’s competitive positioning in the global market.

Jack Quigley, founder and managing director of CrowdfundUP, said that it is an exciting time for the startup as it looks to global expansion.

“We look forward to providing Chinese investors access to investment opportunities in the Australian property market, and also giving Australian investors access to selected, qualified opportunities in China.”

Investment opportunities currently on CrowdfundUP include an aged care property fund, listed through property partner Heathley, and the Hotel Development Group’s Leighton Beach Hotel.

The capital raise for CrowdfundUP comes as crowdfunding continues to gain legitimacy as a method of funding property investment and development.